Needless to say, there’s never been a better time to be (or become) an ecommerce business owner.

We’re off to a great start to the decade – so what else do we have to look forward to this year? In this article, we share the top 10 ecommerce growth statistics you need to know, so you can get prepped and get keen for a huge year in sales. Read on!

#1. It’s estimated that there will be 2.05 billion global digital buyers in 2020

That’s a lot of potential customers and a whole world of opportunities for ecommerce business owners, both old and new. There’s never been a better time to open an online store.

#2. Subscription services have seen a surge in popularity amid COVID-19

COVID-19 has had a huge impact on how customers shop. The amount of people allowed to gather in public has dropped from thousands, to hundreds, to ten, to just two – so, out of fear and necessity, customers are choosing to shop online rather than visit a traditional brick-and-mortar store.

This includes weekly/monthly meal delivery services and digital streaming services like Netflix. This comes as no surprise – most of the time, people aren’t allowed outside and have more time to catch up on the latest TV shows.

If your business has the potential to expand your service to provide a regular subscription – look into it!

#3. China has the largest market of ecommerce in the world

China has topped the list of ecommerce markets worldwide – a $672 billion market, smashing America out of the water at $340 billion and the United Kingdom at $99 billion.

The takeaway – make sure you’ve got a secure checkout process for all payment types and shout it from the rooftops to develop trust between you and your customers.

#5. The number one reason people shop online is that they’re able to shop at all hours of the day

Image: Oborlo

Like we said earlier, shopping online is fun, quick and convenient – but the main reason ecommerce is booming comes down to the ability to shop at all hours of the day (or night… you never know when the urge to buy a new running jacket is going to strike).

The key takeaway here: make sure the shopping experience for your customers is simple and convenient. You might consider “quick buy” options for customers to make purchases on the fly, offer flexible payment methods, and allow shopping on other platforms like Instagram.

#6. 65% of shoppers look up price comparisons on their mobile device while in a physical store

This is super convenient for ecommerce business owners because there’s a simple way to take advantage of the situation. Using Google Shopping, you can appear in Google’s search results when customers are looking for the products you’re selling.

For example, if a customer is shopping for novelty moon lamps in-store and wants to compare prices, they can search “novelty moon lamp” and your products will appear at the top of search results.

Google Shopping is also pay-per-click, like Google Ads, so even if customers don’t check out with you, you’re still working on spreading brand awareness.

#7. 85% of consumers conduct online research before making a purchase online

In the same vein, customers are now doing more research than ever before prior to making a purchase.

Welcome to the roaring ‘20s – it’s going to be a big one!

In 2020, we can expect some huge ecommerce growth. The stats don’t lie – and the time is ripe to start (or improve) an ecommerce business.

Whether you’re a brand new online business owner, thinking of starting a business, or a seasoned ecommerce entrepreneur, we’re here to help. We offer simple, streamlined courier booking and postage services, so you can keep on improving the customer experience, offer super fast shipping, and watch sales stream through into your bank account.

Become a member of Transdirect – we can help make your ecommerce growth soar in 2020!

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